News
Trade ports in South Korea processed a total of 2.208 million TEUs of containers in October, which only improved 1.4% from a year earlier, according to a preliminary report released by the nation’s Ministry of Oceans and Fisheries (MOF). In breakdown, exports and imports increased 7.8% to 1.336 million TEUs in total, but transshipment (T/S) containers decreased 7.3% to 829,000 TEUs.
Container throughput nearly unchanged at Busan, which increased a minute 0.1% to 1.645 million TEUs. Exports and imports were steady, growing 7.6% to 829,000 TEUs, thanks to a recovery in exports. On the other hand, T/S containers fell 6.5% to 817,000 TEUs, adversely impacted by the collapse of Hanjin Shipping Co., Ltd. The collapsed carrier handled 49,690 TEUs of T/S containers to and from the port, which plunged 51.94%, according to statistical data provided by the Busan Port Authority (BPA). In contrast, the 2M Alliance—Maersk Line of Denmark and Mediterranean Shipping Co. S.A. (MSC) of Switzerland—moved 235,087 TEUs, which surged 13.15%. It is estimated that most of the containers that Hanjin lost were covered by shipping lines of other economies.
